Aon plc $AON Shares Sold by Abacus Planning Group Inc.

Abacus Planning Group Inc. cut its stake in Aon plc (NYSE:AON) by 12.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 904 shares of the financial services provider’s stock after selling 126 shares during the period. Abacus Planning Group Inc.’s holdings in AON were worth $323,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Portside Wealth Group LLC grew its stake in AON by 530.6% in the first quarter. Portside Wealth Group LLC now owns 11,055 shares of the financial services provider’s stock worth $4,412,000 after purchasing an additional 9,302 shares in the last quarter. WCM Investment Management LLC grew its position in shares of AON by 0.3% in the 1st quarter. WCM Investment Management LLC now owns 2,051,816 shares of the financial services provider’s stock worth $809,544,000 after acquiring an additional 6,038 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of AON by 5.6% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 28,022 shares of the financial services provider’s stock valued at $11,183,000 after acquiring an additional 1,489 shares in the last quarter. Catalyst Capital Advisors LLC lifted its stake in AON by 425.3% during the first quarter. Catalyst Capital Advisors LLC now owns 1,907 shares of the financial services provider’s stock worth $761,000 after purchasing an additional 1,544 shares during the last quarter. Finally, Ninety One North America Inc. increased its stake in AON by 64.4% during the first quarter. Ninety One North America Inc. now owns 7,483 shares of the financial services provider’s stock valued at $2,986,000 after purchasing an additional 2,932 shares during the last quarter. 86.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AON has been the topic of a number of recent research reports. Jefferies Financial Group upgraded shares of AON from a “hold” rating to a “buy” rating and raised their price target for the stock from $400.00 to $426.00 in a research report on Wednesday, July 30th. Wells Fargo & Company restated an “overweight” rating and issued a $438.00 target price (up from $436.00) on shares of AON in a research note on Thursday, July 10th. Cantor Fitzgerald upgraded AON to a “strong-buy” rating in a research report on Wednesday, August 13th. Weiss Ratings restated a “buy (b-)” rating on shares of AON in a research report on Saturday, September 27th. Finally, TD Cowen lowered their price objective on AON from $427.00 to $419.00 and set a “buy” rating for the company in a research note on Wednesday, September 17th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $415.06.

AON Stock Performance

Shares of AON stock opened at $364.06 on Friday. Aon plc has a 12-month low of $323.73 and a 12-month high of $412.97. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.52 and a quick ratio of 1.52. The firm has a market capitalization of $78.50 billion, a price-to-earnings ratio of 30.49, a price-to-earnings-growth ratio of 2.14 and a beta of 0.89. The business has a 50 day simple moving average of $363.77 and a 200 day simple moving average of $364.00.

AON (NYSE:AON) last announced its quarterly earnings results on Friday, July 25th. The financial services provider reported $3.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.40 by $0.09. The company had revenue of $4.16 billion during the quarter, compared to analyst estimates of $4.16 billion. AON had a return on equity of 50.91% and a net margin of 15.54%.The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.93 EPS. On average, equities research analysts anticipate that Aon plc will post 17.21 EPS for the current year.

AON Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Friday, August 1st were paid a dividend of $0.745 per share. The ex-dividend date of this dividend was Friday, August 1st. This represents a $2.98 annualized dividend and a yield of 0.8%. AON’s dividend payout ratio (DPR) is presently 24.96%.

About AON

Aon Plc engages in the provision of risk, health, and wealth solutions. It focuses on risk capital including claim management, reinsurance, risk analysis, management, retention, and transfer; and human capital involving analytics, health and benefits, investments, pensions and retirement, talent and rewards, and workplace wellbeing.